Bintai Kinden secures RM59m debt settlement plan, shareholders' nod for private placement
"This pivotal agreement entails an immediate disbursement of RM1.
"This pivotal agreement entails an immediate disbursement of RM1.
The conditional relief indulgence (CRI) agreement involves a six-month relief period for Optimal Property Management Sdn Bhd (OPM), a 100% subsidiary of Bintai Kinden, with monthly loan repayment of RM500,000.
In a bourse filing on Thursday, the mechanical and electrical engineering firm said Axbena filed a notice of discontinuance in respect of the suit with no legal cost, as well as without liberty to file afresh.
Datuk Tay Chor Han replaces Ku Chong Hong, who was redesignated to executive director cum chief financial officer.
He previously held directorships in other listed companies, namely Serba Dinamik Holdings Bhd and NWP Holdings Bhd, both as an independent and non-executive director.
JMI is being sued by Axbena Sdn Bhd for not completing a RM10.
In an exchange filing on Tuesday (April 11), the Bintai said it is sourcing for the appropriate review and negotiation with the parties involved in the concession arrangement to reach amicable solutions to settle debts owing to MBSB.
It was obtained in 2018 in accordance with a concession arrangement of 25 years, with Bintai Kinden as the corporate guarantor.
KUALA LUMPUR (March 24): Bintai Kinden Corporation Bhd has secured RM57.
KUALA LUMPUR (Dec 1): Bintai Kinden Corp Bhd has inked a memorandum of understanding to jointly develop a piece of industrial land near Kuala Lumpur International Airport (KLIA).